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    Penobscot River Frontage Land Title is generated by Realmo AI

    23 River Road, Bucksport, ME 04416

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    Claim this Listing
    For Sale
    $289,000

    29.41 acres of Penobscot River frontage with development potential.

    Type:Land
    Property size:
    1,281,099 SF
    Lot size:
    29.41 Acres
    Price / SF:
    $0.23/SF
    Added:
    May 19, 2026
    Days on Market:
    11
    Last Refresh:
    May 19 at 9:15 pm

    Property Features for 23 River Road

    General Information

    Standard status
    Active
    Size
    1,281,099 SF
    Lot size
    29.41 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Shane Patrick

    Listing agent Shane Patrick

    Listing office Whitetail Property Real Estate, LLC

    Listing date May 19, 2026

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Whitetail Property Real Estate, LLC

    HighLights

    • 29.41± acres of Penobscot River frontage.
    • Consists of four separate parcels in mixed‑use zoning, allowing building on one while retaining/selling others without subdivision.
    • Frontage along Highway 15 with power available at the road.
    • Strong stand of mature hardwoods (including oak) offering visual appeal and future value.
    • Existing network of skitter trails provides internal access.
    • Includes Barn(s).

    Overview

    This property features 29.41 acres of Penobscot River frontage, offering access, flexibility, and long-term potential. The land consists of four separate parcels in mixed-use zoning, allowing for construction on one parcel while retaining or selling the others without subdivision work. Frontage along Highway 15 and available power at the road facilitate planning a build. An inactive discontinued rail line crosses the property, and a network of skitter trails from a recent selective harvest provides internal access. The harvest has left a strong stand of mature hardwoods, including oak, offering visual appeal, future value, browse, and cover for wildlife. Shoreland zoning will guide structure placement, but the layout of the parcels provides multiple options within those setbacks. The combination of river frontage, existing access, and separate lots allows for creating a single homesite with added privacy or taking a longer view with investment in mind. Bucksport, with its waterfront, marina, and local dining, is a nearby hub, offering convenience while the property maintains a rural feel along the Penobscot. The property is suitable for a range of approaches, whether creating a single homesite with added privacy or taking a longer view with investment in mind.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Auto Parts Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bucksport
    County
    Hancock
    State
    Maine
    Longitude
    -68.8044063
    Latitude
    44.5780596

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    FAQs

    What type of property is this?
    Land - 29.41 acres of Penobscot River frontage with development potential.
    Where is this land located?
    The property is located at 23 River Road Bucksport, ME.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: 29.41± acres of Penobscot River frontage.; Consists of four separate parcels in mixed‑use zoning, allowing building on one while retaining/selling others without subdivision.; Frontage along Highway 15 with power available at the road.
    (207) 248-2568
    We can help!
    Listing Contact
    Shane Patrick
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    23 River Road, Bucksport, ME 04416
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